ARK is amending prospectus language for its ETFs
https://www.sec.gov/ix?doc=/Archives/edgar/data/1579982/000110465921042507/tm2110363-5_497.htm
- Specify risks of investing in SPACs
- Remove limit on ADRs, warrants, preferreds, etc
- Remove 10% limit on investing of assets in single firm, up to 30% now
- Remove limit on investing in 20+% of a single firm's shares
Seems to allow them to make even bigger bets on specific plays, i.e they were previously capping Tesla at 10% of their holdings in ARKK as it grew.